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Gender Pay Gap Report

Gender Pay Gap Report for period up to 5th April 2017

TCFC has always been committed to recognising and rewarding people based on their skills and knowledge and has worked to its equal opportunities policy irrespective of gender. TCFC is run by our Senior Management Team (SMT) which currently consists of 60% male and 40% female members which is in excess of the Governments 33% target for Board members. When looking at the gender pay gap figures, it is important to note that they are distinct from equal pay. The latter focuses on the equality between genders for staff performing at similar levels and roles, whereas the gender pay gap can be influenced by the mix of staff in senior roles.

Gender pay gap:

The gender pay gap is defined as the difference between the average (mean or median) earnings male and female employees receive, as a percentage of men’s earnings.

Mean Gender Pay Gap: 11.9%
Median Gender Pay Gap: 3.1%

These figures are distorted by the timing of certain bonus payments. If this distortion is normalised the figures become:

Mean Gender Pay Gap: 9.3%
Median Gender Pay Gap: 0.0%

We feel that these figures present a fair reflection of where we are and that we will continue to strive to ensure ongoing gender parity for staff performing similar roles.

Bonus Gender Pay Gap:

The gender bonus gap is defined as the difference between the mean or median annual bonus figure that male and female staff received in the year to 5th April 2017, as a proportion of the male figure. Male and Female staff undertaking the same role are eligible for the same bonus assuming equal performance.

Mean Bonus Gender Pay Gap: 46.1%
Median Bonus Gender Pay Gap: 33.8%

The percentages are based on total bonus payments that are 8.5% of total payroll over the reporting period and therefore small financial differences can result in large percentage variances. In addition, the reported figures reflect differences in bonus schemes between departments, for example our car retail unit works on a commission bonus scheme, the performance of individual departments relative to others, the mix of males and females in departments and the timing of bonus payments within the reporting period. We are comfortable with the fairness of bonus payments within our individual departments.

Proportion of Male and Female Employees Receiving Bonus Payment:

All staff are eligible for bonus payments under the relevant bonus scheme, the reason why certain staff may not receive a bonus is that they are new to the company or their performance is below an acceptable level. We are confident that performance is measured fairly.

Male: 83.6%
Female: 84.8%

Proportion of Male and Female Employees in each Quartile Pay Bands:

Lower Quartile Men 51.3%
Women 48.7%
Lower Middle Quartile Men 55.8%
Women 44.2%
Upper Middle Quartile Men 51.3%
Women 48.7%
Upper Quartile Men 58.4%
Women 41.6%

Mark Giles
CEO

Sheena Webster
HR Director

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